Submitted by Antony Savvas on May 24, 2023
Big channel player Veeam says it is well on the way to hitting its next $1 billion in sales, which will be a major boon for its 35,000 partners around the world.
The private company, founded in 2006, took many years to hit the $1 billion turnover mark, finally reaching it a couple of years before the pandemic struck. According to CEO Anand Eswaran (pictured), who joined the company just over a year ago, the cloud data management and security vendor was currently generating around $1.5 billion in sales.
Those sales are growing annually by well over a quarter, and the company’s operating profits are jumping by an impressive 30% a year. “Do the math”, Eswaran told IT Europa in a sit down at the company’s annual VeeamON partner and customer conference in Miami. The math tells partners sales will be well beyond $2 billion within two years.
When asked what he had been doing for the last 12 months, Eswaran said it had been a “busy year”. The company recently announced 200 job cuts from its total headcount of over 5,000, which could potentially help generate even greater operating profits.
Eswaran said it had been a year of product integration and execution, which included the launch of the new Veeam Data Platform earlier this year, offering improved data backup, recovery and security.
More end customers are said to be buying the advanced and premium versions of the company’s software to aid their protection from ransomware, for instance, as well as boosting protection for Microsoft 365 and Salesforce data workloads – all benefiting the top line figures of partners.
The company’s technology alliances are also becoming more widespread to tackle the data security threat, with the likes of Scality, CrowdStrike and Palo Alto Networks mentioned by Eswaran, as useful partners to help Veeam improve its product suite’s analytics and actions against ransomware and other emerging threats.
Conference keynotes outlined the company’s future strategy around Veeam Data Platform.NEXT, not currently a product but a roadmap to how the company planned to bring greater functionality to its products.
The firm started out all those years ago as a provider of basic on-premise backup and recovery software for SMEs, and has evolved to become a major supplier of cloud data protection to enterprises, often served by managed service provider Veeam partners.
Veean Data Platform.NEXT promises enhanced protection for the enterprise, the backup of object storage in the cloud and wider ransomware protection options, along with a host of other new services and features. The offer is clearly designed with larger organisations in mind, not the smaller companies who helped Veeam make its first steps in the data protection market.
Eswaran said the first big pieces of meat to be put on the bones of .NEXT would be available in “the second half of this year”. Asked whether there was a danger that some of the company’s smaller customers could feel left behind, Eswaran said: “54% of our business is enterprise, but SMEs still form the rest, we will never leave them behind, ever.”
More from VeeamON to follow...